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Yokohama gets SEC nod to boost tire production

Japanese-owned Yokohama Tire Philippines Inc. got the nod of the Securities and Exchange Commission (SEC) to boost its capital stock, in view of the company’s plan to increase annual production of its plant.

The company aims to raise local production to 7 million tires by September 2006.

The commission en banc, the SEC’s highest decision-making body, said in a document furnished reporters on Thursday that Yokohama’s increase of capital stock from P625 million to P2.2 billion "may be given due course."

An increase in capital stock, which is the number of shares authorized for issuance by a company’s charter, allows a firm to use the additional proceeds for investment in projects or equipment, thus raising its profits and/or efficiency.

Yokohama’s Japanese parent firm announced last year it will invest 10 billion yen to expand its yearly tire production capacity beginning October this year. The company has a plant at the Clark Special Economic Zone in Pampanga.

In the document it submitted to the SEC, the company’s Philippine unit said at least P1.111 billion of the net increase in authorized capital stock of P1.575 billion has been paid in cash by the parent company.

The company said the money, equivalent to $20 million, has been received by the Mizuho Corporate Bank Ltd. in January, at the Bangko Sentral ng Pilipinas reference rate of P55.552.

The P1.111 billion, according to Yokohama’s special audit report, "may be considered fresh and additional capital infusion."

Yokohama was established in 1996 as a joint venture between Yokohama Rubber, which invested 80 percent of the capital, and JFE Shoji Trading Corp. (then Kawasho Corp.), which invested the remaining 20 percent, for manufacturing passenger car tires for export markets.

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Answer: Yes you can. The return policy on our tires, wheels, and parts are as follows:
Return for Refund
Credit amount will be calculated as follows:
TIRES: Credit less all freight charges incurred.
WHEELS: Credit less all freight charges incurred. Wheels cannot have had tires mounted; please test fit wheels prior to mounting tires.
WHEEL & TIRE PACKAGE: Credit less $60 labor charge for dismount and less all freight charges incurred.
SPECIAL ORDER ITEMS: Special order items are not returnable.
Orders shipped via Federal Express are charged freight both ways on refused shipments.
Credits will be issued to the credit card used on the order. If payment received was cash or check, we will refund by check to the billing address.

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The Bridgestone Potenza RE750 is an Ultra High Performance Summer tire that was developed for the drivers of sports cars and sporty coupes to provide traction on wet and dry roads. It uses Bridgestone's UNI-T network of technologies to improve three primary factors of the tire's performance: the bead, casing and tread compound.

In 1990, ASA decided to build a state-of-the-art alloy wheel manufacturing facility. Knowing the complexity and challenge this presented, ASA went to BBS in Germany to tap the best technical knowledge in facility design, manufacturing processes and quality controls for producing high quality alloy wheels. Production began at the new facility in Jeywon, South Korea in March 1992

The WedsSport SA-90 (Bronze Painted) offers a strong construction and race look with open lug and hub cover. Broad Japanese car fitments available in 15, 16 and 17" diameters.